Tanzania Securities

What Tanzania Securities does

Tanzania Securities Limited (TSL) is a Dar es Salaam-based financial services firm licensed by the Capital Markets and Securities Authority (CMSA) as a broker-dealer, fund manager, and investment adviser, and a Licensed Dealing Member of the Dar es Salaam Stock Exchange (DSE). Founded in 1994 as Tanzania's first investment advisor, the firm later became the first broker-dealer admitted to DSE in 1998 and the country's first private fund manager in 2007. The firm serves three customer segments through distinct revenue streams: (i) retail and institutional investors accessing the capital markets via its securities brokerage franchise (equities, government and corporate bonds, Treasury Bills/Bonds, commodities and futures) with brokerage commissions capped at 2.4% of trade value; (ii) unit trust investors through two proprietary schemes — the Imara Fund, an open-ended money market fund targeting 12% p.a. returns with TZS 50,000 minimum initial investment and 2-day redemption, and the Kesho Tulivu Fund, a balanced retirement vehicle targeting 13% p.a. across 5-15+ year horizons with TZS 1,000,000 minimums and automatic payroll deductions; and (iii) corporate clients using its NOMAD and corporate advisory practice for IPOs, private placements, and listings on DSE's Main Investment Market and Enterprise Growth Market. Combined fund AUM exceeds TZS 17 billion and total firm AUM exceeds TZS 100 billion across 36,000+ individual client accounts.

TSL operates a multi-channel distribution architecture anchored by a headquarters in Alfa Plaza, a Mobile Trading Platform (MTP) with approximately 10-minute client authorization, the TSL App (INVESTMKONONI) for portfolio monitoring, and an upcoming TSL Web Portal for self-serve account opening. Research and analytics, including daily/weekly/monthly market reports and equity research on DSE-listed names, is distributed free via the corporate website and social channels and functions as a top-of-funnel acquisition mechanism. The firm is privately held by the Massawe family with no disclosed external capital, an 11-50 person organization, and a senior leadership team of nine department heads covering fund management, global markets, research and advisory, risk and compliance, operations and ICT, finance, governance and legal, and human resources. Strategic partnerships include CRDB Bank as custodian for the Kesho Tulivu Fund and core regulatory relationships with CMSA, DSE, and the Bank of Tanzania.

Name

Tanzania Securities

Legal name

Tanzania Securities Limited

Website

https://tanzaniasecurities.co.tz

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

Tanzania Securities Limited is a Dar es Salaam-based, CMSA-licensed broker-dealer, fund manager, and investment adviser serving 36,000+ retail and institutional clients through DSE securities brokerage, two proprietary unit trusts (Imara and Kesho Tulivu), and corporate advisory for IPOs and listings.

Ownership category

akta.pro rank

Product category

Securities Brokerage and Investment Management

NAICS

Investment Banking and Securities Intermediation (523150), Securities and Commodity Contracts Intermediation and Brokerage (5231), Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industries

Private Placements (144A/Reg S/MTN) (FSACABAK), IPO & Public Markets Advisory (BPAHADAH)

Keywords

• Securities brokerage services
• Investment fund management
• Corporate financial advisory
• Equity research analytics
• Capital markets trading

Headquarters

HQ city

Dar Es Salaam

HQ country

Tanzania

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Securities Brokerage Commissions: Brokerage fees for equity and debt securities trading on DSE. Maximum total brokerage fees stand at 2.4% of trade value including Brokerage charges, DSE fees, CMSA fees, CDS fees, and Fidelity fees.
2. Fund Management Fees: Professional fund management services for pension funds, insurance companies, and retail investors. Fees include management fee and custodian/trustee fee deducted from fund value.
3. Corporate Advisory: Investment advisory services for capital market transactions including IPOs, private placements, debt issuance, and regulatory compliance support. Also acts as NOMAD (Nominated Advisor) for listings.
4. Research and Analytics: In-depth research and market analysis covering equities, fixed income, and macroeconomic trends provided to clients for investment decision support.
5. Government Securities Trading: Primary dealer of Government Securities including Treasury Bills and Treasury Bonds, facilitating trading and investment in sovereign debt instruments.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels9 records

Core offering

Tanzania Securities Limited is a licensed broker-dealer, fund manager, and investment adviser that facilitates trading of equities, fixed income, money market instruments, government securities, and IPOs on the Dar es Salaam Stock Exchange (DSE). It also manages two proprietary unit trusts — the Imara Fund (short-term money market, 12% p.a. target) and the Kesho Tulivu Fund (long-term retirement, 13% p.a. target) — and provides corporate advisory (IPOs, private placements, NOMAD), institutional fund management, and equity and macroeconomic research. Distribution is enabled through a proprietary web portal, a Mobile Trading Platform (MTP), and the TSL App (INVESTMKONONI).

Product overview

Tanzania Securities Limited operates as a licensed broker-dealer, fund manager, and investment adviser offering a multi-product financial services platform. The core offering consists of Securities Brokerage (equities, fixed income, money market instruments trading on DSE), complemented by two proprietary unit trusts: Imara Fund (short-term high-liquidity money market fund targeting 12% p.a. returns) and Kesho Tulivu Fund (long-term balanced retirement fund targeting 13% p.a. returns). The platform also includes Research & Analytics, Corporate Advisory, and Fund Management services. Client-facing technology includes a Mobile Trading Platform (MTP) and the TSL App (INVESTMKONONI) for investment tracking. The company also distributes market reports (daily, weekly, monthly, quarterly) and equity research on DSE-listed companies.

Differentiator

Problem solved

Functional benefit

Brands

• IMARA Fund: An open-ended scheme offering high liquidity with a low-risk profile, ideal for short-term capital growth through diversified fixed income and money market instruments.
• KESHO Tulivu Fund
• TSL App (INVESTMKONONI)

Products and services

• Securities Brokerage Broker-dealer services facilitating buying and selling of equities, fixed income securities, and money market instruments on the Dar es Salaam Stock Exchange (DSE). Services include shares/stocks trading, government and corporate bonds, commodities and futures, and IPO support, offered to individual and institutional investors.
• Imara Fund Open-ended money market unit trust offering high liquidity with a low-risk profile, designed for short-term capital growth through diversified fixed income and money market instruments. Initial investment TZS 50,000; additional investment TZS 10,000; target return 12% p.a. with 2-working day redemption processing and no entry or exit fees. NAV reported daily.
• Kesho Tulivu Fund

Quantifiable outcome

• 12% per annum target return on Imara Fund
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Capital Markets and Securities Authority (CMSA)coreOthersPrimary regulatory body licensing TSL as broker-dealer, fund manager, and investment adviser. CMSA ensures investor protection, transparency, and proper management of funds in Tanzania's capital markets.
• Dar es Salaam Stock Exchange (DSE)coreChannel Partner/ Reseller/ DistributorTSL is a Licensed Dealing Member (LDM) of the DSE, facilitating all securities trading and market access for clients on Tanzania's primary stock exchange.
• CRDB Bank PlccoreImplementation/ SI/ Consulting PartnerServes as Custodian/Trustee for Kesho Tulivu Fund, ensuring safekeeping of investor funds and regulatory compliance. Separately processes dividend payments for shareholders.
• Bank of TanzaniacoreOthersCentral bank and regulator of payment systems. TSL offers Treasury Bills and Bonds as approved primary dealer. Bank provides CDS application services for investor account opening.

Scale indicators5 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Unit Trust of Tanzania (UTT/UTAM): UTT is Tanzania's largest dedicated unit trust and collective investment scheme manager, directly competing with TSL's Imara Fund and Kesho Tulivu Fund for retail savings AUM, with similar money-market and balanced fund offerings.
• Orbit Securities: Orbit Securities is one of the other pioneering licensed broker-dealers on the Dar es Salaam Stock Exchange, offering equity trading, fixed income, and investment advisory to Tanzanian retail and institutional clients — directly competing with TSL on DSE brokerage and primary dealership mandates.
• Core Securities Tanzania: Core Securities is a licensed broker-dealer and dealing member of the DSE offering securities brokerage, advisory, and fund management — a direct head-to-head competitor to TSL across most product lines in the Tanzanian market.
• NIC Capital Tanzania: NIC Capital is part of the NIC Group offering investment advisory, securities trading, and asset management in Tanzania — competing with TSL for institutional mandates, brokerage flow, and corporate advisory on the DSE.

Broad incumbents

• Sanlam Investments East Africa: Sanlam's East African asset management and wealth franchise competes with TSL's institutional and retail fund management offerings while bringing a larger pan-African product shelf to the same Tanzanian client base.
• Standard Chartered Securities Africa: Standard Chartered's African securities arms provide institutional brokerage, research, and capital markets execution across multiple African markets — a broader incumbent whose institutional client base overlaps with TSL's institutional segment.
• Old Mutual Investment Group East Africa: Old Mutual operates unit trusts, asset management, and securities services across East Africa including Tanzania — directly competing with TSL's Imara and Kesho Tulivu funds while offering a broader multi-country product suite.

Regional players

• Afrinvest (West Africa): Afrinvest is a leading West African investment bank and asset manager offering securities brokerage, research, asset management, and corporate advisory — comparable to TSL as a multi-product frontier-market capital markets franchise.
• Dyer & Blair Investment Bank: Dyer & Blair is a long-established Kenyan investment bank offering securities brokerage, asset management, corporate finance, and research — a regional East African peer in terms of multi-product capital markets franchise.
• Kestrel Capital (Kenya): Kestrel Capital is an East African investment bank providing brokerage, corporate finance, asset management, and research across Kenya and the region — a regional comparable for TSL's diversified capital markets model in a deeper market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/tsl_broker?lang=en
• Facebookfacebook.com/p/Tanzania-Securities-Limited-100064311600586
• LinkedInlinkedin.com/company/tanzania-securities-limited
• Instagraminstagram.com/tsl.group

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tanzania Securities